Banks under pressure; Nifty Bank, PSU Bank indices crack up to 5% in 2 days

Global broking and research firm CLSA said on Thursday, that the Adani Group poses no "significant downside risk" to Indian banks.

Banking shares were under pressure with Nifty Bank, Nifty Private Bank and Nifty PSU Bank indices declining up to 5 per cent in past two trading days amid a heavy sell-off in equities.

At 09:41 AM; Nifty Bank, Nifty Private Bank and Nifty PSU Bank indices were down 1.5 per cent to 2 per cent on the National Stock Exchange (NSE). In comparison, the Nifty 50 was down 0.67 per cent. In past two trading days, the banking indices have declined between 4 per cent and 5 per cent, as against 2 per cent decline in the benchmark index.